MGM Resorts International (NYSE:MGM) Receives Average Recommendation of "Moderate Buy" from Analysts

MGM Resorts International (NYSE:MGM - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twenty-one ratings firms that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $51.29.

MGM has been the subject of a number of research analyst reports. Susquehanna Bancshares upped their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Wells Fargo & Company upped their price objective on MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Citigroup boosted their target price on MGM Resorts International from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Stifel Nicolaus raised their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, Truist Financial cut their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th.

Insider Transactions at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares of the company's stock, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the business's stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $32.17 per share, with a total value of $321,700.00. Following the acquisition, the chief financial officer now directly owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.13% of the company's stock.

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Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. TD Waterhouse Canada Inc. increased its holdings in MGM Resorts International by 8.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company's stock valued at $111,000 after buying an additional 261 shares during the period. Ballentine Partners LLC lifted its stake in MGM Resorts International by 5.4% during the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company's stock worth $227,000 after purchasing an additional 333 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of MGM Resorts International by 1.7% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company's stock valued at $684,000 after purchasing an additional 333 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock valued at $43,000 after purchasing an additional 404 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after buying an additional 411 shares in the last quarter. Institutional investors own 68.11% of the company's stock.

MGM Resorts International Stock Up 0.4 %

Shares of NYSE MGM traded up $0.11 during mid-day trading on Friday, reaching $29.73. 2,793,823 shares of the company's stock were exchanged, compared to its average volume of 4,578,603. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The business has a fifty day simple moving average of $32.55 and a 200 day simple moving average of $35.16. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $47.26. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, equities analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.